Exhibit 10.42
March 27, 2000
Xx. Xxxx Xxxxxxxxx
c/o New Plan Excel Realty Trust, Inc.
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: Employment Agreement (the "Agreement"), dated as of September 25, 1998,
by and between Xxxx Xxxxxxxxx ("Executive") and New Plan Excel Realty Trust,
Inc. (the "Company")
Dear Xx. Xxxxxxxxx:
In reference to the Employment Agreement and in connection with the replacement
of Xxxxxx Xxxxxxx as Chief Executive Officer of the Company, please be advised
that the Company is hereby providing you with written notice of two automatic
one year renewals under the Agreement. Accordingly, the "Employment Period"
under the Agreement shall continue through December 31, 2003, subject to the
extension provisions contained in Section 2 of the Agreement.
Sincerely,
New Plan Excel Realty Trust, Inc.
By: /s/ Xxxxx X. Xxxxxxx
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Name: Xxxxx X. Xxxxxxx
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Its: CEO
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